Buyers Today, Sellers Tomorrow: 8 Key Consumer Changes that MUST Drive Your Marketing Strategy

Buyers Today, Sellers Tomorrow: Eight Key Consumer Changes

that MUST Drive Your Marketing Strategy

Nikesh ParekhMarket Leader

2

Buyers Today Sellers Tomorrow

Phone Interviews with

400 BUYERS & SELLERS

IN 2004 & 2012

Conducted By Third Party

44

2,500 Recent Agent Surveyed

2,423 Real Estate Agent

Surveys in 2013

55

And … the Results(drum roll please)

66

77

8

Family Changes Still Drive Home Buying & SellingWeddings, Babies, Schools, Divorce

9

So Do Bigger Houses & Better Neighborhoods“Did you see their play room?”

10*Pew Research Center, December 29, 2010

“Retirement” Is the Fastest Growing Seller Reason

10,000 Boomers

Retiring Per Day for 19

Years*

• Job retirement• Health issues• Weather• Stairs• Grandkids

1111*NAHREP, 2011

In 2020, 80% of New Home Buyers Will Be Minorities*

50% of New Buyers will be Hispanic*

But, Most Consumers are Worried About Real Estate

1313

Move-Up Home Sellers Declining*

1414

Consumers Less Willing to Relocate for Job

Not a Safe Investment Anymore?

Low Cost, Low Tax

From East & West

To Center &

South

17

What Hasn’t Changed?

18

Real Estate is NOT An Impulse Purchase

1919

Buyers & Sellers Are Researching For 15+ Months …Before Contacting An Agent

2020

Buyers & Sellers Are Researching For 15+ Months …Before Contacting An Agent

TWICE As Long Compared to 2004

2121

Now, Consumers Have ALL the Information

22

In 2004, Sellers Primarily Used Realtors

In 2012, Sellers Consult Realtors & Internet Equally

23

Buyers Primarily Consult the Internet in 2012

Consumers Visiting Many, Diverse Real Estate Web Sites

But Using 80% Fewer Sites Than in 2004

54%51% 50%

45%

31%28%

12%

Agent Web Site Local MLS Zillow Realtor.com Trulia RealEstate.com Homes.com

Agents & MLS Have A Slight Edge with Sellers

53%

42%

54%

44%41%

18%15%

Agent Web Site Local MLS Zillow Realtor.com Trulia RealEstate.com Homes.com

But Losing Ground with Buyers

Mobile is Big & Growing

12% of Sellers

25% of Buyers

29

YET, Consumers Are Spending LESS TIME Researching & Selecting An Agent

15+ Months of Research …

30

Sellers are Spending 30% Less Time Selecting An Agent

In 2012 vs 2004

1 DayResearching

Agents

458 DayResearching

Homes

63% of Consumers Interview & Select an Agent in Less Than One Day

32

Majority of Consumers Select First Agent Interviewed

33

AND Repeat Home Buyers & Sellers Select An Agent 4X Faster

3434

How To Adapt Your Marketing Strategy?

3535

1. One Word…

Demographics

1. Pick A Niche

• 6.5m Hispanic Home Owners

• 4m Newly Weds

• 4m Babies Born

• 2.7m Asian Home Owners

Age 21-24 65+

Trigger Family Retirement

Time to engage

agent8x faster 2x slower

Age Drives Seller Behavior

Seniors Require More Planning & Patience

• Market senior friendly features

• Consultative sale / high touch

• Build trust

• Offer services like inspection & staging

• Compile resources on assisted living

39

2. Pick Your “Channel”

Buyers & Sellers Are Using Multiple SitesWeb, Social & Mobile

Your Web Site

• Realtor.com

• Zillow

• Trulia

• RealEstate.com

• ActiveRain

• Homes.com

• Google

• FaceBook

Direct Mail Offers Greater Targeting

• Seniors

• Newly Weds

• New Mothers

• Renters

42

3. Create A Unique Content Strategy

Target Keywords With Your Blog

• Pick a local keyword phrases based on your niche

• Write hyperlocal content on your blog

• Share with your social networks

– ActiveRain

– Google+

– FaceBook

– Twitter

Search Widget Back to IDX Web

Site

Local How-ToLocal Lists

Market ReportsLocal Reviews

Time Sensitive

Engage in Social Media

• Google Yourself

• Optimize Profile Pages

– Google Plus, FaceBook, LinkedIn

– ActiveRain

– Trulia, Zillow, & Realtor

• Link back to your IDX web site

• Add testimonials & reviews

4. Think Long Term

Can’t Force Buying or Selling Before They Are Ready

No Silver Bullets

4747

48

5. Be First

Consumers Select the First Agent in One Day When They Are Ready

49

6. Stay In Touch Over 12-18 months

Use a powerful CRM & email marketing

solution

50

7. Listen Closely

Use killer analytics to separate buyers from browsers

51

8. Get Mobile

Real Estate is Inherently

Mobile

Your Children Will Not Know

What A “Computer” Is

52

1. Pick A Niche

2. Pick Your “Channel”

3. Create A Unique Content Strategy

4. Think Long Term

5. Be First

6. Stay In Touch Over 12-18 months

7. Listen Closely

8. Get Mobile

53

Accomplish more with just one real estate solution

Market Leader customers earn more than twice (2X!) the median income of a typical NAR memberusing our:

Nikesh [email protected]

visit the Market Leader booth 529

• Websites

• Contact management

• Lead generation

• Marketing center

• Education

54

Eight Key Consumer Changesthat MUST Drive Your Marketing Strategy